Private investment has risen as a share of GDP in recent years, an important driver of the region’s impressive growth since 2003. Nonetheless, investment-to-GDP ratios remain below those in other regions. Moreover, investment has not increased uniformly across all countries. The rise in the aggregate investment-to-GDP ratio has been driven especially by increases in Colombia and Venezuela and by the recovery in Argentina. Private investment in other countries, such as Brazil and in the Caribbean region, has risen less over this period.